Globalization, Poverty, and All That:Factor Endowment versus Productivity Views
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Title: Globalization, Poverty, and All That:Factor Endowment versus Productivity Views

Essay Details:

Subject: Business
Author: Daniel F
Date: June 6, 2011
Level:
Grade: B
Length: 50 / 14866

Essay text:

Unfortunately, productivity differences seem necessary to understand many, though not all, globalization and inequality episodes. The factor endowment predictions help give us insight into how the North Atlantic economy achieved decreasing inequality between countries in the last five decades. They also give us insight into the Great Migration of Europeans from the land-scarce Old World to the land-abundant New World in the late 19th and early 20th century, accompanied by the predicted movements in land rental/wage ratios. The factor endowment view of an earlier movement of Europeans to the colonies of the New World and southern Africa help us understand the origins of different levels of country inequality based on land/labor ratios...

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